Technology Shocks and Monetary Policy: Assessing the Fed's Performance

By J. Gaĺı, D. López-Salido, Javier Vallés. 2003

295 citations recorded by the source corpus.

Subfields: Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/14ef61fb9f232cac6ba06216dfb8a4661213ba40

Citations in the corpus

• An Estimated Stochastic Dynamic General Equilibrium Model of the Euro Area (2002, unknown): “As noted by Fuhrer and Moore (1995) and Gali and Gertler (2000), the purely forward-looking Phillips curve predicts that inflation should lead output, whereas in the data the opposite seems to be the case.”
• An Agenda for a Growing Europe: The Sapir Report (2004, unknown): “In the case of supply shocks – like cost-push shocks - the task of policymakers tends to be more difficult as they face a trade-off between output and inflation stabilisation and, in the case of permanent shocks – like technology shocks - it has to decide how quickly to let the economy converge to t”
• Real Business Cycle Models: Past, Present, and Future (2005, unknown): “[55] Gali, Jordi, David Lopez-Salido, and Javier Valles “Technology Shocks and Monetary Policy: Assessing the Fed’s Performance,” Journal of Monetary Economics, 50: 723 - 743, 2004.”
• Optimal interest rate rules, asset prices, and credit frictions (2005, unknown): “Yt(i) = AtF (Nt(i),Kt(i)) (17) where At is a productivity shifter common to all entrepreneurs.”
• What Firms' Surveys Tell Us about Price-Setting Behavior in the Euro Area (2006, unknown): “…in the calibration of dynamic stochastic general equilibrium (DSGE) models, which are widely used for monetary policy analysis (see, for instance, Woodford 2003 and Gal´ı, L´opez-Salido, and Vall´es 2003), its empirical assessment has until very recently mainly relied on macroeconomic evidence.”
• Fixed and Variable-Rate Mortgages, Business Cycles and Monetary Policy (2009, unknown): “and ( 12 ). From the Euler equations for consumption of unconstrained consumers, we know that R = 1=�”
• Is The Technology-Driven Real Business Cycle Hypothesis Dead? Shocks and Aggregate Fluctuations Revisted (2005, unknown): “2 Exogeneity of Identified Technology Shocks As argued by Hall (1988) and Evans (1992), the technology shock should not in principle be correlated with other exogenous shocks that are not related to technology, nor with lagged”